Compliance Memo

Compliance Memorandum 2012-09; Using Investment Planning Questionnaires

For more information, contact:

Compliance Team

Date Issued:

December 10, 2012

The GP Investment Planning Questionnaire (GP IPQ) was identified by the MFDA as having some potential weaknesses that, if the IPQ were used improperly, could result in unsuitable portfolio recommendations.

As a result, we have temporarily discontinued the approved use of the GP IPQ and have removed it from the website. In addition, a change to our policy regarding the use of any Investment Planning Questionnaire (IPQ) including those available from Fund Companies has been made that requires a financial advisor to seek approval from compliance before use with a client.

Once an IPQ has been approved, the IPQ must be submitted whenever it is completed with the client during that process to ensure that KYC is consistent with the client responses given to the IPQ.

As always, if you have any questions or comments, contact the Compliance Department by email at